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Taxes on Income (Tables) | 12 Months Ended
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Dec. 31, 2023
Taxes on Income [Abstract] |
Schedule of Income Tax Expense (Benefit) Included in the Statements of Operations and Comprehensive Loss | Income tax expense (benefit) included in the statements of operations and comprehensive loss consisted of the following:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Current |  |  |  |  |  |
Federal |  | $ | 2,381,973 |  |  | $ | - |
Foreign |  |  | 2,204,454 |  |  |  | - |
State |  |  | 995,545 |  |  |  | - |
Total current |  |  | 5,581,972 |  |  |  | - |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 366,647 |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
State |  |  | - |  |  |  | - |
Total deferred |  |  | 366,647 |  |  |  |  |
Total provision |  | $ | 5,948,619 |  |  | $ | - |
Schedule of Reconciliation Income Tax Expense | Income tax expense differed from the amount computed by applying the Federal statutory income tax rate of 21% to pretax income (loss) for fiscal year 2023 as a result of the following:
|  | December 31, 2023 |
|  | Amount |  |  | Rate |
Income (loss) before taxes |  | $ | (52,596,474 | ) |  |  |  |
Federal tax at statutory rate |  |  | (11,460,373 | ) |  |  | 21.79 | %
State income taxes, net of federal tax benefit |  |  | (1,446,935 | ) |  |  | 2.75 | %
Foreign taxes |  |  | 1,245,213 |  |  |  | (2.37 | )%
Change in valuation allowance |  |  | 167,085 |  |  |  | (0.32 | )%
162(m) limitations |  |  | 94,389 |  |  |  | (0.18 | )%
Stock based compensation |  |  | 1,349,670 |  |  |  | (2.57 | )%
Permanent differences |  |  | (367,013 | ) |  |  | 0.70 | %
Difference and changes in tax rates |  |  | (1,308,774 | ) |  |  | 2.49 | %
Impact of deconsolidation |  |  | (1,604,439 | ) |  |  | 3.05 | %
Return to provision |  |  | 19,279,796 |  |  |  | (36.66 | )%
Total |  | $ | 5,948,619 |  |  |  | (11.32 | )%
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that gave rise to significant portions of the Company’s deferred tax assets and liabilities related to the following:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 25,994,146 |  |  | $ | 15,762,452 |
Operating Lease Liability |  |  | 630,235 |  |  |  | 782,080 |
Accrued Liabilities |  |  | 1,989,103 |  |  |  | 166,650 |
Unrealized Loss |  |  | 1,428,304 |  |  |  | 2,473,377 |
Stock based compensation |  |  | 5,836,809 |  |  |  | 5,874,815 |
Disallowed Interest Expense |  |  | - |  |  |  | 2,548,266 |
Business interest expense deduction limit |  |  | 2,178,167 |  |  |  | - |
Other |  |  | 22,865 |  |  |  | 186,432 |
Total deferred tax assets |  |  | 38,079,629 |  |  |  | 27,794,072 |
Liabilities |  |  |  |  |  |  |  |
Right of Use Asset |  |  | (597,503 | ) |  |  | (770,635 | )
Property and equipment, net |  |  | (10,150,612 | ) |  |  | (1,112,435 | )
Derivative asset |  |  | (1,016,616 | ) |  |  | - |
Total deferred tax liabilities |  |  | (11,764,731 | ) |  |  | (1,883,070 | )
Valuation allowance |  |  | (26,681,545 | ) |  |  | (25,911,002 | )
Net deferred tax liability |  | $ | (366,647 | ) |  | $ | - |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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